BTL Group raised $15.3 Million for Interbit platform

Blockchain company BTL Group has raised $15.3 million to develop its Interbit platform, which aims to be launched in early 2018
27 November 2017   1255

According to whitepaper, Interbit is a private blockchain development platform designed for business innovators and developers to quickly and easily incorporate the best of blockchain capabilities into enterprise applications. It also includes a suite of APIs and smart contracts that allow enterprise application developers to rapidly, confidently, and efficiently create enterprise-grade applications.

The financial resources will be spent on building technical team and commence a sales and marketing drive in conjunction with the launch of the platform. The objectives are to onboard enterprises who can license InterbitTM to either build their own applications or partner with BTL, as well as target technology teams and developers to encourage adoption, enabling them to use the JavaScript coding language to build and share applications, said a statement.

We are delighted to have completed this funding round, where we saw significantly increased investor demand given the recent progress and exciting news from the Company. The capital will be used to rapidly expedite our go to market strategy for our third generation blockchain platform, InterbitTM.

 

Dominic McCann

CEO, BTL

BTL has operations in both Canada and the UK and it is listed on Canada's TSX Venture Exchange. The main focus has been on remittances, which BTL has partnered with Visa's digital innovation teams on. The company has also been adopting its blockchain to the energy and gaming sectors.

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Civic to Buy Identity.com Domain

The domain will become a blockchain platform for the exchange of user data
19 July 2018   137

American startup Civic has acquired the domain name identity.com. According to Vinny Lingham, CEO of the company, the domain will become a blockchain platform for the exchange of user data. This is reported by CoinDesk.

The identity.com platform will be a decentralized ecosystem. Thus, companies that own data will request the user's consent to the issuance of information. Blockchain will allow verifying the authenticity of the user's permission. After that, the company will be able to provide information to the data buyer.

Calculation on the platform will be performed in Civic (CVC) tokens. And thanks to smart contracts, payment will occur after the requesting company receives relevant information.

Previously, the domain was a portal for Internet real estate and belonged to the Inflection. Civic bought the domain name after Inflection stopped operating in this area of ​​business.

Vinny Lingham does not disclose the details of the negotiations and the amount of the deal. Nevertheless, he stated that he always considered the identity.com domain an ideal address for the promotion of his blocking project.

According to CEO Civic, this purchase is an important step not only for the company, but also for the development of the Web 3.0 concept.